Hanoi – Framas Group, the leading injection molding machine manufacturer of Germany, has unveiled its plan aimed at expanding production activities in Nhon Trach 2 Industrial Park in the southern province of Dong Nai.
The move comes following the group leasing a ready-built factory area of 20,000 square metres from KTG Industrial, with the intention of expanding its scale within the Vietnamese market to meet the increasing demands from customers, reported the Voice of Vietnam (VOV).
The 10-year lease contract demonstrates the resilience of the Vietnamese economy and the industrial real estate sector, despite the adverse impacts caused by the prolonged COVID-19 pandemic.
Fabian Urban, head of Footwear Technology at Framas Vietnam, revealed that the establishment of a new factory in Nhon Trach 2 IP is part of the group’s wider strategy to develop the footwear sector in the Vietnamese market.
The new facility is therefore anticipated to meet the growing needs of customers, provide high-quality products, along with taking full advantage of the professional workforce in the nation.
KTG Industrial is a well-known developer of ready-built factories and warehouses which are put up for lease with high-quality facilities up to international quality and safety standards, according to experts from real estate firm Savills.
